Dennis Kissler of BOK Financial notes U.S. natural gas futures rose 0.2% to $2.688/mm Btu, attributing stability to elevated storage from higher production and LNG maintenance delays. Despite above-average temperatures, traders expect demand to shift to fall. Meanwhile, European prices plummeted 7%, with Dutch TTF at 51.99 euros/MWh, driven by improved Iran war diplomacy and lower cooling demand amid a heatwave.

Hungary’s Paks nuclear plant shutdown—supplying 40% of national electricity—due to Danube River water levels worsened supply. Norwegian pipeline maintenance and Egypt’s Damietta LNG terminal strike further tightened global LNG markets. Storage in Europe remains low at 57% full, contrasting last year’s levels. ([email protected], [email protected]).